Potential local economic impact from Obama's budget - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Potential local economic impact from Obama's budget

  President Obama's proposed budget would have some impact on our area.  The proposed budget would limit 2008 Farm Bill payments and would end direct payment to farmers making more than $500,000 a year.  The USDA's Resource Conservation and Development Program would be eliminated.  Producers who store cotton until prices rise would lose their subsidies.

  On the other hand, despite the fact the budget proposes about $30-billion in defense cuts, Bell Helicopter says they would not be affected.  They're still ramping up, in fact, anticipating growth.  Cannon Air Force Base says they don't anticipate an impact.  They've been growing since 2007 when Air Force Special Operations took over.  Also, the National Nuclear Security Administration should be getting almost $10-billion from the budget...but Pantex isn't commenting.

   All of this must be negotiated with Congress, of course, and the President is expected to encounter some resistance.

 

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